Friday Link Wrap-up

Friday, July 15th, 2011 at
1:51 pm

Post-war (i.e. WWII) marginal tax rates (the top individual tax bracket) have fluctuated from above 90% to below 30%, but W. Kurt Hauser noted that, in 1993, the total tax revenue, as a percentage of GDP, stayed virtually constant. Really. The data has been updated to 2007 and the observation holds. You can’t soak the rich. Raise their rates, and GDP goes down to match, in addition to the tax shelters that suddenly become very popular. Social engineers who want to use the tax code to implement what they want ought to be very disturbed, if they even know about this.

In terms of absolute dollars, federal revenues have tripled in the last 50 years (quadrupled if you consider the amount just before the recession). The problem is, federal spending has outpaced even that. Ed Morrissey has the charts to show that we don’t have a revenue problem.

Homeschooling is such a success that liberals at the NEA, in the Dept. of Education and in Congress are "troubled" and "concerned" by it, and of course consider it racist. Yes, really.

Just like the press (and the anti-war movement) has gone very quiet about wars, old and new, being prosecuted by this President, the NY Time even notices that the press has been ignoring the poor during this recession. And they’re part of the press to blame for it! What a difference a Democratic President makes!

Andres Oppenheimer says it best. "What Chavez has done in Venezuela over the last 12 years is nothing short of an economic miracle: Despite benefiting from the biggest oil boom in Venezuela’s history, he has somehow managed to turn the country into a shambles." Read the whole thing. It’s amazing to see truly how much money socialism can spend on people, only to make their lives worse.

Comparing and contrasting the economic stimulus under Clinton (that got rejected) to the economic stimulus under Obama (which passed) and which was actually better for unemployment.

If the debt ceiling is not raised by August, we would still have enough money coming in to not default on interest payments on the debt, and cover Social Security, Medicare, and "essential" defense. Don’t let Obama’s threat about withholding Grandma’s check scare you.

The ban on circumcision that will be on the San Francisco ballot in November is rife with anti-Semitism. That’s just about all you need to know about it, but here’s more.